Board approves early retirement incentive for teachers

TEMECULA -- Members of the teachers union will have an incentive
to retire early, thanks to a decision made by the school board this
week.

The Temecula Valley Unified School District board voted 5-0
Tuesday to approve an early retirement incentive plan with the goal
of saving the district money. The plan also rewards employees for
their hard work, said Jim Thomas, president of the Temecula Valley
Educators Association, the union representing teachers, nurses,
psychologists and speech pathologists.

The plan would be offered to certificated employees who are at
least 55 with five years experience in the school district. The
plan, developed by Keenan & Associates, would be instituted if
at least 32 teachers sign up. It would go into effect July 1. There
are 128 employees who are eligible.

Retirees would receive a monthly payment and have the option of
controlling how many years they receive the payout and whether
their spouse would benefit.

If 32 teachers sign up, the district could save $200,000 to
$300,000 in the first year, Assistant Superintendent Chris Cordner
said. That savings would come from the difference between the
retirees' salaries and salaries of new employees. If too few
employees sign up to reap a savings, the district would cancel the
program, Cordner said.

Teachers typically receive state benefits when they retire, but
none from the school district. The early retirement plan would
allow teachers to work in education immediately after retirement
without penalty, Thomas said.